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Oil prices rise again

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Motorists will have to pay more for petroleum products this week, as oil firms announced another round of price hikes to mark the second consecutive week of increases, according to a report by GMA News.

In separate advisories, Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said they will increase prices per liter of gasoline by P0.75, diesel by P1.10, and kerosene by P0.90.

Changes in the price of kerosene will not be implemented in areas under state of calamity.

Cleanfuel and Petro Gazz will implement the same changes, excluding kerosene which they do not carry.

The changes will take effect at 6 a.m. on Tuesday, January 11, for all the firms except for Cleanfuel, which will adjust prices at 4:01 p.m. on the same day. Other firms have yet to make similar announcements for the week.

Latest data available from the Department of Energy (DOE) indicate that year-to-date adjustments stood at a net increase of P17.65 per liter for gasoline, P14.30 per liter for diesel, and P11.54 per liter for kerosene in 2021.


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